Nigeria (Commonwealth Union) _Nigeria’s president, Bola Tinubu, in his opening address to the United Nations, emphasized the need for Africa to go over the limitations of foreign exploitation and realize its enormous potential.
“Africa has been hampered by bad government. However, broken promises, unequal treatment, and plain exploitation from overseas have also taken a significant toll on our capacity to advance, he added.
African countries will strengthen their economy so that their citizens will not have to put their lives in danger to clean the streets and floors of other countries.
Tinubu emphasized the significance of international investments, saying that partners should prioritize Africa’s development in an equitable and mutually beneficial way.
He said, “We are looking for a firm, equal commitment to partnership. Walk with us as true friends and partners. There is no need to dodge the issue of Africa. It also doesn’t merit sympathy. Nothing less than the world’s future lies in Africa”.
Along with opposing coups, Tinubu argued that democratic administration was the best safeguard for the wishes and well-being of the populace. And he emphasized the importance of quickly addressing how climate change is affecting the continent.
Nigerian observers argue that before addressing significant African concerns, President Bola Tinubu must first demonstrate his ability to run his country. Tinubu also called for equal cooperation with the West on a global scale.
On September 19, Mr. Tinubu spoke during the addresses of world leaders to the General Assembly. On the spot after taking office on May 29, he declared that one of his first acts would be to end the gasoline subsidy. In less than 24 hours, the shift caused transportation expenses for the 213 million people in the country to double. Nigerians had to give up their cars in large numbers as the price of gasoline increased by roughly 200%. In a nation where almost half the population lives in poverty, this has made inflation even worse as food costs have skyrocketed. On his first day in office, Nigerians accused the president of starting a panic that should have been prevented.
Nevertheless, Mr. Tinubu delivered a powerful address at the General Assembly that focused on many of the issues that Africa suffers and the reality that the West is unable to treat Africa fairly, according to Kelechukwu Ogu, a Nigerian energy analyst who is currently based in Berkeley, California. But he added that there were several issues with Tinubu’s signaling in Nigeria.
According to Mr. Ogu, the president announced the elimination of the subsidy without putting in place a backup plan to help Nigerians adjust to the unexpected change in a smooth way.
A few weeks following his election, Mr. Tinubu announced changes to the nation’s currency system, calling it “noxious.” Mayowa Tijani, a business journalist and editor at large of the Nigerian publication TheCable, referred to the new FX policy as the first step in a long road. He claimed that obstacles still prevent easy access to foreign currency.
Mr. Tijani remarked of the naira, the currency of the nation. He said, “Devaluation of the naira was inevitable. However, not as a sole policy. For it to make sense, we need complementing policies that permit the inflow of FX (foreign exchange). We don’t have enough rules and auxiliary systems to make it function properly. Additionally, we must make it simpler for investors to withdraw their funds”.
In his address to the General Assembly, Mr. Tinubu commended his policy decisions and claimed that the hardship that followed was required “to establish a foundation for durable growth and investment to build the economy our people deserve.”
He compared Africa’s ability to meet the Sustainable Development Goals to the Marshall Plan of 1948, which charged the United States with supplying the enormous resources required for rebuilding post-war Western Europe.
